The House of Representatives Ad-hoc Committee probing the Presidential Foreign Investment Promotion Council (PFIPC) has uncovered 12 alleged fake government agencies linked to the council.
The committee also traced 58 bank accounts and 39 workers to Adeyemi Adeniyi, who allegedly operated as the PFIPC Director-General.
Lawmakers found that Adeniyi’s purported appointment was fraudulent, raising questions about the legitimacy of the PFIPC and the organisations linked to it.
Investigators also uncovered financial links among several organisations associated with Adeniyi, prompting concerns about possible fraud, unauthorised operations and misrepresentation.
The committee is examining how the entities were established and operated, as well as how the 39 workers were recruited.
Chief of Staff to President Bola Tinubu, Femi Gbajabiamila, was exonerated after investigators found that he had alerted relevant authorities about the PFIPC’s activities.
The probe is continuing, with lawmakers seeking to establish the full extent of the alleged network and determine whether public funds were involved.